509 research outputs found
Peering over the edge of the short period? The Keynesian Roots of Stock-Flow Consistent Macroeconomic Models
"The Keynesian Roots of Stock-flow Consistent Macroeconomic Models: Peering Over the Edge of the Short Period"
This paper argues that institutionally rich stock-flow consistent modelsâthat is, models in which economic agents are identified with the main social categories/institutional sectors of actual capitalist economies, the short period behavior of these agents is thoroughly described, and the "period by period" balance sheet dynamics implied by the latter is consistently modeledâare (1) perfectly compatible with John Maynard Keynes's theoretical views, (2) the ideal tool for rigorous post-Keynesian analyses of the medium run, and (3) therefore crucial to the consolidation of the broad post-Keynesian research program.
"Revisiting (and Connecting) Marglin-Bhaduri and Minsky--An SFC Look at Financialization and Profit-led Growth"
Many heterodox strands of thought share both a concern with the study of different phases or growth regimes in the history of capitalism and the use of formal short-run models as an analytical tool. This text suggests that (1) this strategy is potentially misleading; (2) that the stock-flow consistent (SFC) approach, while providing a general framework that may facilitate the dialogue among those currents, is particularly well suited to all those who think that macroeconomic models may illuminate historical quests; and (3) that the main intuitions may be conveyed through the "benchmark" Post Keynesian SFC model presented by Dos Santos and Zezza (2008), dispensing with the complex computer simulations that are normally employed by SFC authors.
As implicaçÔes macroeconÎmicas do consumo: perspectivas para a pesquisa heterodoxa
sem informaçãoThe recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investmentled growth models. An alte35121153sem informaçãosem informaçãosem informaçã
THE NEW CONSENSUS UNDER STRESS: THE FINANCIAL CRISIS AND THE FISCAL POLICY COMEBACK
From the 1980s, mainstream macroeconomic thinking experienced a strongconvergence in methodological assumptions and policy proposals for more than twodecades. This âNew Macroeconomics Consensusâ was characterized by the role playedby the monetary policy in macroeconomic adjustment. Fiscal policy was set aside; itshould only be concerned with keeping public debt in a stable path in order to ensurethe âeconomic fundamentalsâ. However, the need for active and unconventionalpolicy measures during the 2008 global economic crisis brought fiscal policy back tothe mainstream debate. This paper briefly describes this convergence, discussing therole it assigned for fiscal policy before the crisis, and then examines the issues the postcrisis debate concentrated on, showing how it differs from the previous mainstreamconception of fiscal policy. We suggest that mainstream limitations to deal with fiscalpolicy may have opened a window of opportunity for a broader review of its role as apolicy tool.From the 1980s, mainstream macroeconomic thinking experienced a strongconvergence in methodological assumptions and policy proposals for more than twodecades. This âNew Macroeconomics Consensusâ was characterized by the role playedby the monetary policy in macroeconomic adjustment. Fiscal policy was set aside; itshould only be concerned with keeping public debt in a stable path in order to ensurethe âeconomic fundamentalsâ. However, the need for active and unconventionalpolicy measures during the 2008 global economic crisis brought fiscal policy back tothe mainstream debate. This paper briefly describes this convergence, discussing therole it assigned for fiscal policy before the crisis, and then examines the issues the postcrisis debate concentrated on, showing how it differs from the previous mainstreamconception of fiscal policy. We suggest that mainstream limitations to deal with fiscalpolicy may have opened a window of opportunity for a broader review of its role as apolicy tool
THE MACROECONOMIC IMPLICATIONS OF CONSUMPTION: STATE-OF-ART AND PROSPECTS FOR THE HETERODOX FUTURE RESEARCH
The recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investment-led growth models. An alternative approach is the so-called Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final demand components â including consumption â may lead long-run growth. We suggest that the dialogue between these approaches is not only possible but may prove to be quite fruitful.The recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investment-led growth models. An alternative approach is the so-called Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final demand components â including consumption â may lead long-run growth. We suggest that the dialogue between these approaches is not only possible but may prove to be quite fruitful
THE MACROECONOMIC IMPLICATIONS OF CONSUMPTION: STATE-OF-ART AND PROSPECTS FOR THE HETERODOX FUTURE RESEARCH
The recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investment-led growth models. An alternative approach is the so-called Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final demand components â including consumption â may lead long-run growth. We suggest that the dialogue between these approaches is not only possible but may prove to be quite fruitful.The recent US economic scenario has motivated a series of heterodox papers concerned with household indebtedness and consumption. Though discussing autonomous consumption, most of the theoretical papers rely on private investment-led growth models. An alternative approach is the so-called Sraffian supermultipler model, which treats long-run investment as induced, allowing for the possibility that other final demand components â including consumption â may lead long-run growth. We suggest that the dialogue between these approaches is not only possible but may prove to be quite fruitful
The macroeconomic implications of consumpion: state-of-art and prospects for the heterodox future research
XX Encontro Nacional de Economia PolĂtica: desenvolvimento Latino-Americano, Integração e Inserção Internacional - UNILA, Foz do Iguaçu, 26 a 29 de maio de 2015The recent US economic scenario has motivated a series of heterodox
papers concerned with household indebtedness and consumption.
Though discussing autonomous consumption, most of the theoretical
papers rely on private investment-led growth models. An alternative
approach is the so-called Sraffi an supermultipler model, which treats
long-run investment as induced, allowing for the possibility that other
fi nal demand components â including consumption â may lead long-
run growth. We suggest that the dialogue between these approaches
is not only possible but may prove to be quite fruitfulBanco Nacional de Desenvolvimento EconĂŽmico e Social (BNDES); Usina HidrelĂ©trica de Itaipu (ITAIPU); Coordenação de Aperfeiçoamento de Pessoal de NĂvel Superior (CAPES) e Universidade Federal da Integração Latino-Americana (UNILA
Comércio internacional, finanças e crescimento: uma nota sobre a contribuição da UNCTAD
sem informaçãosem infomação13191201sem informaçãosem informaçãosem informaçã
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